Fate Therapeutics’ (FATE) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note published on Thursday,Benzinga reports.

FATE has been the topic of a number of other research reports. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.50.

Fate Therapeutics Stock Down 2.9 %

Shares of FATE opened at $1.01 on Thursday. The stock has a fifty day simple moving average of $1.36 and a two-hundred day simple moving average of $2.36. The company has a market capitalization of $115.74 million, a PE ratio of -0.61 and a beta of 2.26. Fate Therapeutics has a 52-week low of $0.88 and a 52-week high of $8.74.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $1.86 million for the quarter, compared to the consensus estimate of $1.57 million. As a group, equities analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the purchase, the director now owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its position in shares of Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 8,497 shares during the period. SG Americas Securities LLC increased its holdings in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 10,511 shares during the period. Geode Capital Management LLC raised its position in Fate Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after purchasing an additional 10,863 shares in the last quarter. American Century Companies Inc. raised its position in Fate Therapeutics by 6.6% in the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 12,295 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Fate Therapeutics by 9.6% in the 4th quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 14,532 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.